• About
  • Advertise
  • Contact
Saturday, May 31, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Economy

Report Rates Lagos, Ogun Nigeria’s Most Economically Viable States

Vital News by Vital News
December 21, 2023
in Economy
0
Share on FacebookShare on Twitter

A report by Economic Confidential, a subsidiary of PR Nigeria, has rated Lagos and Ogun States are the most economically viable states in Nigeria.

Pointing to Ogun State’s status as Nigeria’s topmost investment destination after Lagos, the report showed that the Dapo Abiodun-led Ogun State outperformed Rivers State, which joined Lagos and Ogun on the list of economically viable states for the year 2022, along with Kaduna, Kwara, Oyo and Edo States.

The report compiled from figures released by the Nigerian Bureau of Statistics (NBS) and the Federal Account Allocation Committee (FAAC) showed that while Lagos received the sum of N370, 921, 413, 425.62 from the Federation Account and generated N651,145, 633.085 as internally generated revenue, Ogun, on the other hand, received N113,404, 027,439.22 from the Federation Account and generated N120,548, 157,140.78 internally.

On the other hand, Rivers State received N363.4bn from the Federation Account and generated N172bn; Kaduna received N155bn and generated N58 billon; Kwara received N99 billon and generated N35.7bn; Oyo received N181bn and generated N62billion, while Edo received N147bn in federal allocation and generated N47.4bn.

The results were made known during the presentation of the 2022 Annual States Viability Index Report in Abuja on Monday.

RelatedStories

Sidi Ould Tah Elected New President Of AfDB

President Tinubu Appoints Former Speaker, Yakubu Dogara As Chairman Of NCGC

National Sports Festival’s Impact on Ogun Economy Massive – Abiodun

Poverty Alleviation: TMSG Hails FG’s Fast-tracked Cash Transfer To 15 million Vulnerable Households

It showed that the total Internally Generated Revenue of N1.5trn from the seven most viable states in 2022, was almost twice the total IGR of 29 states together that merely generated about N650billion.

However, six states, including Bayelsa, Akwa Ibom, and Katsina States, failed to generate up to 10 per cent of the total allocations received from the Federal Government for 2022 and were declared insolvent states.

The six states that may not survive without the Federation Account due to their extremely poor internal revenue generation of less than 10 per cent compared to their federal allocations are Bayelsa, Katsina and Akwa Ibom, with Bayelsa bottom of the list with N273bn federal allocation and only N15.9bn IGR, representing 5.81 per cent of the allocations.

Kebbi State with N119billion FAAC allocation and N9billion IGR (7.67%) joins Katsina (N165bn FAAC allocation and N13bn IGR, (7.90%) on the list of economically unviable states, along with Akwa Ibom, which received N360billion and generated N34.8billion (9.66%); Taraba, which received N103billion and generated N10.2billionn (9.91%); and Yobe, which received N105billion and generated N10.4billion (9.91%).

The poorly performing states were unable to attract investments due to socio-political and economic crises, including insurgency, kidnapping, armed banditry, and herdsmen-farmers clashes. (vitalnewsngr.com)

Tags: LagosOgunReportviable
Previous Post

Dangote Refinery Receives Second One Million Barrels of Crude

Next Post

Southwest Security Chiefs Meet In Abeokuta, Abiodun Harps On Intelligence Sharing

Vital News

Vital News

RelatedStories

Sidi Ould Tah Elected New President Of AfDB
Economy

Sidi Ould Tah Elected New President Of AfDB

May 29, 2025
President Tinubu Appoints Former Speaker, Yakubu Dogara As Chairman Of NCGC
Economy

President Tinubu Appoints Former Speaker, Yakubu Dogara As Chairman Of NCGC

May 29, 2025
National Sports Festival’s Impact on Ogun Economy Massive – Abiodun
Economy

National Sports Festival’s Impact on Ogun Economy Massive – Abiodun

May 27, 2025
We Are Better Off Together, President Tinubu To Malian Leader
Economy

Poverty Alleviation: TMSG Hails FG’s Fast-tracked Cash Transfer To 15 million Vulnerable Households

May 19, 2025
Economy

Tinubu’s Nigeria First Policy, Unique, Revolutionary -TMSG

May 16, 2025
Next Post
Southwest Security Chiefs Meet In Abeokuta, Abiodun Harps On Intelligence Sharing

Southwest Security Chiefs Meet In Abeokuta, Abiodun Harps On Intelligence Sharing

Two Policemen Dismissed In Oyo For Demanding Money From Dutch Tourist

Two Policemen Dismissed In Oyo For Demanding Money From Dutch Tourist

Bandits Shot Dead 3 Policemen At Zamfara Checkpoint

Police Shortlist 416,270 For Jan. 8 Recruitment Screening

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

President Tinubu Re-elected As ECOWAS Chairman

President Tinubu Re-elected As ECOWAS Chairman

11 months ago

Kogi delegates return money to Senatorial aspirant

3 years ago
I Look Forward To Peaceful Polls, Retirement, Says President Buhari

Report Of Attack On Buhari In Kano Is Fake – Presidency

2 years ago
Take Advantage Of Global Opportunities, Expert Urges Students

Take Advantage Of Global Opportunities, Expert Urges Students

2 years ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN Court Dangote death drugs Economy EFCC Election elections FG Fraud gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security Senate students Tinubu
No Result
View All Result

Highlights

NGF Expresses Sympathy, Solidarity As Flood Devastates Mokwa Community In Niger State

21 Die, 10 Missing In Niger Flood Disaster

Sidi Ould Tah Elected New President Of AfDB

President Tinubu Appoints Former Speaker, Yakubu Dogara As Chairman Of NCGC

Midterm Performance : Taraba State Rated Least In IGR, Good Governance

School Wall Collapses On Students Writing WAEC In Taraba

Trending

Death Toll From Niger Flood Disaster Rises To 115,  Many Still Missing – NSEMA
Environment

Death Toll From Niger Flood Disaster Rises To 115, Many Still Missing – NSEMA

by Vital News
May 30, 2025
0

The Niger State Emergency Management Agency (NSEMA) says death toll from the flood disaster that recently ravaged...

INEC Fixes July 20 And  August 8, 2026 For Ekiti, Osun Governorship Elections

INEC Fixes July 20 And August 8, 2026 For Ekiti, Osun Governorship Elections

May 30, 2025
Kwara Community Unites Against Female Genital Mutilation, Declares Zero Tolerance

Kwara Community Unites Against Female Genital Mutilation, Declares Zero Tolerance

May 30, 2025
NGF Expresses Sympathy, Solidarity As Flood Devastates Mokwa Community In Niger State

NGF Expresses Sympathy, Solidarity As Flood Devastates Mokwa Community In Niger State

May 30, 2025
21 Die, 10 Missing In Niger Flood Disaster

21 Die, 10 Missing In Niger Flood Disaster

May 29, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • Death Toll From Niger Flood Disaster Rises To 115, Many Still Missing – NSEMA May 30, 2025
  • INEC Fixes July 20 And August 8, 2026 For Ekiti, Osun Governorship Elections May 30, 2025
  • Kwara Community Unites Against Female Genital Mutilation, Declares Zero Tolerance May 30, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In